the new normal balancing continues · • more than 85 running valmet paper and board machines and...

The new normal –balancing continues

Aki Niemi

Area President, China

September 24, 2015

Valmet in China

Valmet in China in brief

Strategy and competitive edges

Summary

1

2

4

5

6

Contents

Market position, drivers and market review

Appendix: References in China

3 Main competitors

China area overviewFocusing on businesses in pulp and paper industry

September 24, 2015 © Valmet | Aki Niemi, Area President, China3

• Large installed base in pulp

and paper industry

• Good reputation for lifecycle

service

• Continuous technology

development

• We have established strong

local presence to serve our

customers

Our business Our customers Our achievements

• Our customers are in leading

position in pulp and paper

businesses

• Our customers are looking for

opportunities in energy

savings and efficiency

• We serve customers by

providing technology and

services for the pulp, paper

and energy industries in

China

• Improve customer

relationship, understand the

customers’ real needs and

provide competitive solutions

241 24199

2013 2014 H1/2015

Orders received

Valmet offering in ChinaComprehensive offering in pulp and paper industry

Complete paper, board and tissue making lines, rebuilds and key components

Complete fiber lines and recovery islands, rebuilds

Complete Automation offering for mainly pulp and paper customers

Valmet full scope service for pulp and paper customers


We have strong position at high end technologies

Paper

Services

Pulp and

Energy

• More than 85 running Valmet paper and board machines and 17 tissue machines at 49 customers

• We are clearly #1 in paper and board machines and #2-3 in tissue machines

• 18 complete Valmet pulp lines are running at 13 customers

• We are #1 counted by delivered capacity of pulp lines and #2 by number of deliveries in wood pulp lines

• Service net sales has increased roughly 90% in the past five years

• 65% of orders received is from 10 key corporations

• Agreement based business has started to develop in the past two years

Automation• Totally 500 installed automation systems (Quality Measurement, Process Control, Web Inspection,

Contioning Monitoring) including 20 competitor replacements only in this year

• More than 6000 pulp and paper analyzers and consistency measurements

Valmet’s operations in ChinaServing the pulp, paper and energy industries

A technology and services company with a unique

customer offering – also including full automation

offering for pulp, paper, energy and other selected

process industries.

About 2,000 employees serving customers through

a local network of production, sales and service units

6 production units, 3 service centers and several

branch offices with the support of Valmet’s global

network

Valmet’s first deliveries to China were in the 1930's

(by Valmet’s predecessor)

The first joint venture (Valmet Xian) was established

in 1989

September 24, 201555

© Valmet | Aki Niemi, Area President, China

Valmet’s milestones in China

September 24, 20156 © Valmet | Aki Niemi, Area President, China

1933 First paper machine delivery to China

by KMW (Guangzhou Paper)

1956 First paper machine delivery to

P.R. of China (Guangzhou PM 5)

1989 Valmet-Xian joint venture

2014 Starts serving customers with

new company name - Valmet

2010 Zibo service center

2009 Guangzhou service center

2006 Metso Paper Technology

(Shanghai), Jiading

2001 Wuxi Service Center

1997 Valmet Beijing representative

office

2013 Fabrics Tianjin extended

2010 Fabrics Tianjin

2008 Metso Paper Technology (Xi’an)

2003 Metso Paper (Shanghai), Wai Gao Qiao

Metso Paper (China)

1999 Start-up of the world's first OptiConcept

paper machine (Nanping PM 5)

2015 Valmet acquire Metso’s

Process Automation Business

Local presence in China

September 24, 20157

Xi’an

Beijing

Shanghai

Guangzhou

Wuxi

Zibo

Tianjin

Factory• Shanghai (3)

• Xi’an

• Tianjin (2)

Service center• Wuxi

• Guangzhou

• Zibo

Office• Beijing

• Ji’nan

• Chengdu

• Guangzhou

• Taiwan


Ji’nan

Chengdu

Taiwan

Strong regional customer base across ChinaServing pulp, paper and energy customers

8 September 24, 2015 © Valmet | Aki Niemi, Area President, China

Services Pulp and Energy Paper Automation

Valmet is a registered trademark of Valmet Corporation. Other trademarks appearing here are trademarks of their respective owners.

The share of China in ValmetFinancial figures in 2014

Source: Financial ReportSeptember 24, 2015 © Valmet | Aki Niemi, Area President, China9

North America

16%

South America

9%

EMEA48%

China8%

Asia-Pacific19%

North America

18%

South America

13%

EMEA43%

China11%

Asia-Pacific15%

North America

11%

South America

4%

EMEA61%

China18%

Asia-Pacific

6%

China is still an important market for new board and tissue machines

However, China’s relative weight in Valmet’s business is balanced

Automation business line is excluded

Orders received Net sales Personnel

Market position, drivers and market review

Market drivers


• Growth supported

by significant

amount of new

capacity being

installed during the

last 15 years and

the installed base is

aging. New

installations

creating new

growth

opportunities.

Services

• Increasing demand

for saving costs of

raw materials,

energy and labor

drives need for

automation

• Higher quality

requirements drive

the need for

automation

• Aging automation

systems installed

during last 15 years

drive upgrade and

replacement

business

Automation

• Increasing standard

of living in Asia

driving demand for

paper, board and

tissue based

products, expected

to increase the

demand for fiber

• Demand for paper,

board and tissue is

growing fastest in

Asia, especially

China and India,

which do not have

sufficient domestic

fiber resources

Pulp

• Developing

markets, e.g.

China, expected to

drive

containerboard

demand

• Higher product

penetration

together with

improved product

quality drive tissue

consumption e.g. in

China

• Trend for lighter

basis weights in

packaging

Paper

Annual review 2013 vs. 2014 vs E2015Production and consumption in paper and pulp industry

Source: C.P.A, RISISeptember 24, 2015 © Valmet | Aki Niemi, Area President, China12

59,400 61,89066,900

59,400 61,89066,300

8,8209,620

10,200 23,78025,400

26,600

8,2907,550

6,900

8,2907,550

7,000

0

20,000

40,000

60,000

80,000

100,000

120,000

2013/P 2014/P 2015E/P 2013/C 2014/C 2015E/C

Pulp Review

Recycled Wood Non-wood

60,500 63,800 66,50060,790 63,580 65,700

7,9508,300

9,100

7,3407,590

8,2004,1504,450

4,600

3,5703,790

3,900

24,90024,900

25,500

22,50022,540

23,100

3,6003,250

3,200

3,6203,210

3,200

0

20,000

40,000

60,000

80,000

100,000

120,000

2013/P 2014/P 2015E/P 2013/C 2014/C 2015E/C

Paper Review

Packaging & Board Tissue Others Printing & Writing Newsprint

Production Consumption

+5.5%

+4.4%

+7.2%

0%

-9.7%

+9.1%

+4.2%

-8.9%

+6.8%

+4.2%

-8.9%

+4.2%

+4.4%

+3.0%

+2.4%

-4.2%

+4.6%

+3.4%

+6.2%

+0.2%

-11.3%

+3.2%

+6.9%

+2.8%

+2.4%

-3.4%

Production Consumption

-9.0%

+5.0%

+8.0%

-7.5%

+4.5%

+7.0%

Production/Consumption: Containerboard Market outlook by RISI

Source: C.P.A , RISI 16th Asian ConferenceSeptember 24, 2015 © Valmet | Aki Niemi, Area President, China13

Healthy balance with supply and demand.

The growth is linked with economic activity.

On-line shopping supports recyclable

packaging growth.

0%

1%

1%

2%

2%

3%

3%

4%

4%

5%

2013 2014 2015 2016

Containerboard Demand/Capacity

Demand Growth Capacity Crowth

0

5,000

10,000

15,000

20,000

25,000

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014

Linerboard

Production Export Consumption Import

0

5,000

10,000

15,000

20,000

25,000

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014

Fluting


Production/Consumption: CartonboardMarket outlook by RISI


Annual Change in Chinese Board

Demand/Capacity, 2007–2018 (RISI)

China boxboard capacity has greatly

outpaced demand, causing further

imbalance in domestic market

More than half of the 15 end-use sectors

analyzed in this study indicate slower

growth through the forecast period

Domestic producers will compete to

increase exports

Recycled boxboard demand will continue

to drag down overall growth, and a larger

demand and supply gap has lead to

tougher market competition for both import

and export grades and more closures0

2,000

4,000

6,000

8,000

10,000

12,000

14,000

16,000

18,000

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014

Cartonboard


Packaging grade summary & outlook

Some positive news

Rebate of 50% on the value-

added tax (VAT) on recovered

fiber (RCF) based paper and

board products from July.

Recent investments often focus

on lighter basis weights leading

to faster board machines where

Valmet is the strongest.

Source: RISISeptember 24, 2015 © Valmet | Aki Niemi, Area President, China15

-1,500

-1,200

-900

-600

-300

0

300

600

900

1,200

1,500

0

10,000

20,000

30,000

40,000

50,000

60,000

70,000

80,000

90,000

100,000

2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

Packaging Production/Consumption Forecast

Production Consumption Import

(ktons)

(LHS) (LHS) (RHS)

Production/Consumption: TissueMarket outlook by RISI


China will continue to be the main driving force of global tissue industry expansion, followed

by Latin America and the Middle East. Project delays will be common.

The Chinese tissue industry seems to be in a structural change: small mills will disappear.

- E.g. Guangxi Huamei (260,000 tons), and closure of smaller tissue mills in Dongguan

City (total 200,000 tonnes).

Tissue export will increase

About 1.4 million tons gap between total installed capacity and effective capacity

0

1,000

2,000

3,000

4,000

5,000

6,000

7,000

8,000

9,000

10,000

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014

Tissue


Market outlook by RISI

Production/Consumption: Graphic paper & newsprint


Newsprint: Permanent Decline

Printing & writing paper:

– Most Asian markets are growing

– The more mature markets will see continued decline.

Declining

0

2,000

4,000

6,000

8,000

10,000

12,000

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014

CWF(Coated Woodfree)


0

2,000

4,000

6,000

8,000

10,000

12,000

14,000

16,000

18,000

20,000

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014

UWF(Uncoated Woodfree)


Production & Consumption outlook in ChinaCompared with Asia totals by different grades


0

10,000

20,000

30,000

40,000

50,000

60,000

70,000

80,000

90,000

100,000

2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

Containerboard

China consumption

Asia consumption

0

10,000

20,000

30,000

40,000

50,000

60,000

2011

2012

2013

2014

2015

2016

2017

2018

2019

2020

Printing & writing

Asia consumption

China consumption

0

2,000

4,000

6,000

8,000

10,000

12,000

14,000

2011

2012

2013

2014

2015

2016

2017

2018

2019

2020

Newsprint

China consumption

Asia consumption

0

5,000

10,000

15,000

20,000

25,000

30,000

35,000

2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

Cartonboard

Asia consumption

China consumption

0

2,000

4,000

6,000

8,000

10,000

12,000

14,000

16,000

18,000

2012 2013 2014 2018 2023

Tissue

China consumption

Asia consumption

Consumption per capitaChinese consumption far away from the level at the Western world

Source: PPI Annual Review 2014 (2013 figures)September 24, 2015 © Valmet | Aki Niemi, Area President, China19

Oceania

JPN

ME

NA

W.Europe

E.Europe

SA

AFRICA

China

Rest of Asia-5

0

5

10

15

20

25

30

-50 0 50 100 150 200 250

Population

Tissue

Consumption

(kg/per)

Paper, Board

Consumption

(kg/per)

China will remain important market for new machines


-1,000

0

1,000

2,000

3,000

4,000

5,000

6,000

7,000

China India Vietnam Taiwan Indonesia Japan Thailand

2015–2017 Paper & board capacity changes forecast

Cartonboard

Containerboard

P&W

News/Closure

P&W/Closure

(ktons)

Environmental issuesGovernment fight against water pollution

Dongguan city has shut down 57 paper mills by June

– According to the plan, some 104 industrial plants, including 57 paper mills, was shut

down permanently. The campaign was targeting board mills with a capacity below

200,000 tons/a and tissue plants with a capacity below 50,000 tons/a.

– This year, the pulp and paper equipment closure targets include

Wood pulp lines with a capacity < 51,000 tons/a

Non-wood pulp lines < 34,000 tons/a

Recycled fiber-based pulp lines < 10,000 tons/a

Newsprint machines with a capacity < 50,000 tons/a

Printing and writing paper units < 1.76 m wide and with a speed < 120 m/min

Cartonboard and recycled containerboard machines < 2 m wide and slower than

80 m/min.

These closures are good for balancing the market and environment.

The players in the market can be get more integrated.

Bigger containerboard customers benefited from the price increase in

June 2015.

Source: NewsSeptember 24, 2015 © Valmet | Aki Niemi, Area President, China21

Old facility closure in pulp and paper industry

1,6

50

8,1

96

9,9

54

7,4

14

4,6

40

2,1

00

2,3

00

1,0

80

51

0

5,3

32

8,3

11

10

,57

0

8,3

10

4,9

22

0

2,000

4,000

6,000

8,000

10,000

12,000

2006 2007 2008 2009 2010 2011 2012 2013 2014

Target closure

Actual closure


Closures on high level in the past 5 years

Source: Ministry of Industry and Information Technology

of the P.R.O.C

Total new installations by startup yearOvercapacity in coated boards, tissue and coated fine papers


0

200

400

600

800

1,000

1,200

2013 2014 2015

Wood pulp startups, kton/a

Chem. Pulp Mech. Pulp Other

0

500

1,000

1,500

2,000

2013 2014 2015 2016

Tissue startups, kton/a

Tissue

0

1,000

2,000

3,000

4,000

5,000

6,000

2013 2014 2015 2016

Board startups, kton/a

Cartonboard Fluting Linerboard

0

200

400

600

800

1,000

1,200

2013 2014 2015 2016

Paper (Printing & Writing) startups, kton/a

CWF Newsprint UWF

Development of paper industry in China

Long-term trends

– Production and consumption will grow, but growth rate will be slower

– Competition will be tougher, winners and losers expected -

consolidation

– Industry integration and elimination of out of date capacity will continue

– Paper and board export can grow, but fiber including virgin fiber and

recycled fiber import will continue

– Policy and management on energy saving and pollution control will be

strengthened

2015 market perspective

– Still restructuring and rebalancing, but recovering

Container board investments continue (mainly mid-size machines)

Cartonboards suffering heavily on overcapacity

Tissue investments estimated to slowly recover in next years, but

winners and losers

Some grade conversion rebuilds and even new paper machines

planned for paper grades. US antidumping actions may impact on

balance.


Development of net sales and orders received


404 369

682512

398 389266

120

20%

26% 28%

19%

13%15%

11%9%

0%

5%

10%

15%

20%

25%

30%

0

200

400

600

800

2008 2009 2010 2011 2012 2013 2014 H1/15

China net sales % of Valmet total

Net sales

Orders received and net sales

have been levelling in the past 2-3

years

– Record order intake and net sales years

just after financial crisis

– Strong stimulus-driven investments led to

overcapacity in most paper grades (like in

many industries in China)

– Printing and writing paper consumption

has been impacted by digital media

– Growth in packaging board and tissue

consumption, but linked with overall

economy development

– China’s volumes are in “new normal”

levels having higher ratio of Services.

– We have adapted to this market and

expect this to continue with normal

annual cyclicality

279

631

480345 358

241 24199

0

100

200

300

400

500

600

700

2008 2009 2010 2011 2012 2013 2014 H1/15

Orders received

Changes in the market environment

September 24, 2015

• Profitability lower by slower market growth and overcapacity

• OPEX and cash flow is the main concern currently

• More cost and investments on environmental issues

• Bio-based power generators are struggling with many

uncertain drivers

• In new investment business focus more on mid-size segment, key components and rebuilds

=> Competition in mid-size segment with smaller international and local competitors

=> Further development of local capability, utilize capacity for global deliveries

• Services business having more local and international competitors

=> Development of combined offering like agreements and process competence

=> Development of local presence close to customer

Market

environment

Customers

26 © Valmet | Aki Niemi, Area President, China

• Growth opportunities in services, market growth mainly in

services

• Fiber market will remain about the same level as today

• Bioenergy market is expected to grow fast, but not in focus

now.

• Paper market flat, investment mainly on mid-size board

grades with occasional large machines

Target market size (EUR million)

Effects to

us

1,090 1,250

150180

500550

50801,790

2,060

2014 2018

Services Automation

Paper Pulp and Energy

Import pulp; 48%Local

pulp; 52%

Exchange rate affect pulp and paper industryChina plays an important role in global paper industry

China as a high portion of global

demand and global growth

Cost structure is critical to the paper

and board mills in current market

China is largely dependent on fiber

imports (almost 48% in total, 2014)

Currency variation will impact on

imported fiber cost and to some

degree on paper exports

Source: J.P Morgan, RISISeptember 24, 2015 © Valmet | Aki Niemi, Area President, China

0

10,000

20,000

30,000

40,000

50,000

60,000

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014

Pulp & Paper / Import & Export in China

PulpExport

PaperExport

PulpImport

PaperImport

ktons

2014 total:

94,840 ktons

27

Main competitors

Valmet’s market position in China


Valmet’s market share of target

market

The service market is

fragmented, with

Valmet, Voith and

Andritz having about

the same market

share.


market

Valmet #1 in Board

and Paper. Tissue

more fragmented

with Valmet, Andritz

and Toscotec having

about the same

market share.


market

Valmet #1 in Pulp in

China. Andritz the

main competitor.

Services Pulp Paper

8%

35%40%

Automation


market

Valmet #1-3 in

different Automation

applications in China.

ABB and Honeywell

the main

competitors.

20%


CompetitorsNumber of competitors in all business segments

Paper & board

Voith Paper

Yueli Machinery

China Paper Machinery

Corporation (CPMC)

Bellmer

Number of local suppliers

Kadant BC

Tissue

Voith Paper

Andritz Pulp & Paper

A Celli

Toscotec

Kawanoe Zoki

Key components

PMP, PMT, ABK, GapCon,

GL&V and others

ABB

Honeywell

Siemens

Voith

Procemex

Isra

BTG

PulpEye

Hollysys

Supcon

Hangzhou Huazhang

Sichuan Tongcheng

Global 1st tier competitors expand local presence

Global 2nd tier competitors finding cooperation with local suppliers for new installations and actively

competing with key components

Local competitors are seeking technology development and expanding to Asian market

Services

Voith Paper


Number of suppliers strong in

selected products /

technology, like AFT for

baskets, BTG for doctor etc.

Numbers of maintenance

suppliers, like PMT, UP-

Tech, Refine etc.

Numbers of paper machine

clothing suppliers like Albany,

Xerium

Pulp and Energy PaperAutomation

Pulp mill competitor


GL&V

Wenrui Machinery

Fujian Sanming Paper

Machinery

Other local suppliers

Huaji Group

Energy competitor

Wuhan Boiler

Western Power

Hangzhou boiler

Wuxi boiler

Jinan boiler

Chempolis

Dong Energy

Strategy and competitive edges

We achieve our strategic targets through the implementation of must-wins


The facts

• Valmet has established strong position

in pulp and paper industry

• Market Equipment business has levelled to

current volumes with mid-size board

grades, rebuilds and tissue

Service market is expected to grow but

impacted by customer profitability

• Our customers are looking for

opportunities in energy savings,

efficiency and lighter basis weights

• Competitors

Global competitors have strengthened

their local presence

Local suppliers are trying to grow with

mid-size capability and increase

competence

Cost competitiveness is critical

Our way Forward

• Maintain our leading market position in

capital business and service business

growth

• Strengthening key account and reference

management

• Market penetration of modularized

technology with cost competitiveness and

leading technologies

• Improving cost competitiveness through

productivity development and capacity cost

optimization

• Continuous development of process know-

how, bundling service business

• Competence development to support

business targets

• Increasing Automation market share with

new technology and products

Valmet’s competitive edgesWhy has Valmet premium pricing?


Value of our technology and engineering

Value of our quality of manufacturing

Value of our smooth start-up and lower

OPEX

Value of our services

Capitalizing the service potential

September 24, 201534 © Valmet | Aki Niemi, Area President, China

Cost

competitiveness

Key Account

Management

Installed base

Agreement-

based business

Large installed base providing good opportunity to increase services.

Strengthen Key Account Management to improve contribution from key

accounts.

Continue to develop agreement-based business.

Cost competitiveness to improve customer OPEX and to beat low-cost

supplier.

Spearhead

products

Introduce spearhead products to market.

How to improve profitability in China?

Competitive cost of raw

materials and other procurement

China is still competitive sourcing

area

Increase the share of

subcontracting and reduce own

capacity cost

Localize component sourcing

further

Manufacturing efficiency and

WTO

Further optimize capacity cost

Basic productivity development

Modular manufacturing

Implement Lean

Increase the share of local

engineering and project operations

Continue to reduce quality cost

Low investment needs – less cost

pressure from depreciation costs

in coming years.


Summary

Summary

The installed base is still young and the service

culture yet underdeveloped, which offers good

possibilities to grow in services

Board and tissue consumption is growing

– Supported by megatrends

– Overcapacity still impacting market in short-term

Valmet has adapted to current market situation

and we can further improve competitiveness

with own actions.

Our strong focus on Key Account Management,

performance and technology development will

keep us ahead of competition.


Appendix: References in China

Our success in moving forward in China New orders in 2015

About EUR 110 million order from Huanggang

Chenming– Able to produce softwood kraft pulp and dissolving pulp depending on the

market needs. Estimated start-up in 2017.

Lee & Man PM21– Container board, Testliner, 1,100m/min, 1,060 ton/d

Repeat order of OptiConcept M by Lee & Man

Yuen Foong Yu, Taiwan – Containerboard, 300,000 tonnes, design speed 1,200 m/m, OptiConcept M

Jingxing PM12 Rebuild, Kraftliner boxboard

Environmental protection projects

– Air pollution control equipment Sun Paper, Zhan Jiang Chen Ming and

HaiNan Jinhai mill

Automation: 20 competitor replacements, mainly QCS

and Profilers. E.g. Jin Feng Huang Paper, Long Chen

Erhlin, Huangchong Yinzhou, Dongguan Shunyu.

© Valmet | Aki Niemi, Area President, ChinaSeptember 24, 201539

Our success in moving forward in China Well recognition from Tissue makers

Lee & Man TM4 ordered in 2014

Site: Chongqing

New tissue machine: Advantage DCT

200 HS

Design speed: 2000 m/min

Estimate start-up: In 2015

Placed repeat orders in 2015: TM5

&TM6

Site: Chongqing

New tissue machine: Advantage DCT

200 HS

Design speed: 2000 m/min

Start-up : In 2016

2015 © Valmet40

Our success in moving forward in China Successful new startups in 2015

Zhanjiang Chenming PM3 relocation– Old Jilin Shixian PM10 relocated to Zhanjiang

– Grades: Offset, LWC, Art Paper

– Design speed at reel 1600 m/min

Zhejiang Long Chen Paper PM7– Containerboard, 900 m/min. Estimate start-up : Late half of

2015

Fiberboard project– 3 deliberator systems have been started up in Hubei Jixiang,

Heze Yalian, Jining Wandu by end of July

– 2 more deliberator systems in late half of 2015.

Automation project– Package projects

– Direct sold projects

Tralin PM9/16, DCS/QCS

Sun Paper PM29, DMM/PQV

Taiwan ChingTshui TM9

Wuhan Jinfenghuang PM6/7/8, QCS

Zhenjiang Dadong PM10, QCS

© Valmet201541

Zhanjiang Chenming PM3, “The

first parent roll in the reel” after

startup. 31.7.2015

Our success in moving forward in China New developments in 2015

Services capacity

Valmet LiteFit and LiteCompact holders

production launched in August, 2015, in

WaiGaoQiao, Shanghai. Aiming to serve

China and Asia-Pacific market.

2000th roll delivered from Guangzhou

Service Center on August 8, 2015

Xian improved environmental performance

In 2014, Xian workshop replaced old coal

boilers with a natural gas heating system,

the improvement made key contribution

to the decreasing of Valmet’s CO2

emissions last year.


Contributing to the well-being of communities and the education

We continue the programs that are helping to

education and build the well-being of

communities

Donate 2 sets of water filters to

Kengzheng Primary school at Jiaxian, Yulin,

Shaanxi Province in June, 2015.

Valmet (China) Co., Ltd. awarded “Labor Prize of

Shanghai” and “Top 10 of Publicity of Democratic

Management in Shanghai” by Shanghai Federation of

Trade Unions, for its excellent results in internal

communication and for having established a harmonious

labor relationship.

Provide scholarships to top industry universities since

2009.

Working with the Chinese Red Cross, we supported

rebuilding of two schools in Sichuan Province after the

2008 earthquake.

43

Paper, board and tissue machine references inChina


Jilin Paper

Shandong Huazhong

Jiangsu Gold East Paper

Wuhan Chenming

Liujiang

Yue Yang

Jiangxi Chenming

Nine Dragons Dongguan

Zhanjiang Guanhao Paper

Hebei Longteng PanAsia

Dongguan Jianhui

Black Dragon Paper, Qiqihar

Jia Mu Si Paper Mill

Jilin Shixian Paper, Tumen

Shandong Chenming

UPM Changshu

Zhenjiang Dadong Paper

Shandong Sishui Jinyi

Shandong Sun Paper

Guangzhou Paper Mill

Zhejiang Zhenzhou Huzhou Paper

Shanghai Xinghuo

Kimberly-Clark Shanghai

Fujian Nanping Paper

Qing Shan Paper Mill

Ningbo Ningshin

StoraEnso Suzhou

Heng An Holding

Fujian Hengli

Changle Numat Paper

Shandong Bohui Paper

MCC Paper Yinhe

Puyang Longfeng Paper

Foshan Huafeng Zhuhai Lee & Man Donguan

Fook Woo

Nine Dragon Taicang

Lee & Man ChangshuZhejiang

Jingxing

Zhejiang

Ji An

Hangzhou

Huajing

Anhui Shanying

Shandong Huatai

MCC Paper Yinhe

Zhanjiang Chenming

Fujian Liansheng

Max. Fortune Hongkong

Xiameng Xinyang

Delivered

New order 2010–2013


Pulping referencesin China


Zhanjiang Guanlong

Jilin Paper

Nine Dragons Paper

Black Dragon Paper, Qiqihar

Shandong Chenming

Shandong Sishui Jinyi

Guangzhou Paper Mill

StoraEnso Suzhou

Jiamusi, Heilongjiangl

Shandong Huatai

Sun Paper

Xinjiang Bositenghu

Xinjiang Tianxi

Wuhan ChenmingSichuan Leshan

Sichuan Yongfeng

Sichuan Yibin

Guangxi Hexian

UPM Changshu Kimberly-Clark Shanghai

Shanghai Xinlun

Fujian Qingshan

Zhejiang Minfeng

Hangzhou Xinhua

Fujian Tengrongda

Fujian Nanping

Ningbo Xiaogang

Zhalantun

Chitianhua Paper

Yingkou Paper

Bohui Paper

Guangxi Jindaxing

Yue Yang Paper

April Rizhao

APP Hainan

Shandong MCC Yinhe

Heilongjiang Dare Wood

Jilin Hongshi

Jilin Helong

Hubei PTP

Jiangxi Robina

Guangxi Sunway

Guangdong Dare Wood

Zhuhai Hongta Renheng

Hainan Huasheng

Hainan Sanya Timber

Zhengda Paper Co.

Guangyuan shengda

Guangdong Hanhong

Tengchong Gulin

Yiyang Senhua

Hunan Chenzhou Yunong Paper

Oj Paper Jiangsu Nantong

Chemical pulping

Mechanical pulping

Stock preparation and

recycled fiber line

Fiberboard


Automation referencesin China


Guangzhou L&M

Gongdong Wanlida

Dongguan Jianhui

Dongguan Jinzhou

ND Dongguan

Guangzhou Paper

Asia Symbol

Guangdong Huatai

Jiangmen C&S

Zhuhai Huafeng

Zhanjiang Chenming

Zhanjiang Guanlong

Hainan Jinhai APP

Hainan Goldenhongye

Fujian HengLi

Fujian HengAn

Fujian Liansheng

Xiameng Xinyang

Fujian Nanping

Qingshan Paper

Guangxi Jindaxing

Nanning Phoenix

Nanning Jinlang

Guangxi Yongkai

Guangxi Jingui

Yunnan Yunjing

Yueyang Paper

Hunan Yuanjiang

Hunan HengAn

Hunan Juntai

Hubei APP

Wuhan GoldenPhoenix

Wuhan ChenmingC&S Chengdu

Sichuan Xunyuan

Yibing Paper

Meilin Paper

L&M Chongqing

ND Chongqing

IPSP & Sunpaper

Shandong Huatai

Shandong Chenming

Shandong Changle

Weifang HengAn

Shandong Bohui

Jilin Chenming

Hebei Huatai

Mudanjiang Hengfeng

April SSYBOL

Shandong Quanlin

MCC Yinhe

Zhengda

Tangshan C&S

ND Tianjing

Puyang Longfeng

Xinxiang Xinya

Henan Tianbang

Xuchang Tobacco

Anhui Shanying

Anhui Huatai

Zhongliang Suzhou

Zhejiang JiAn, Hangzhou Huajing

Jiangsu L&M, Taixing CPKelco

UPM Changshu, Nantong Oji

StoraEnso Suzhou, Kunshan Banknote

Suzhou GoldHogye, Kunshan Avery

ND Taichang, Kunshan YFY

Shangai Orient Champion

Shanghai Yintai

Jiangsu Bohui

Wuxi Longchen

Zhenjiang Dadong

Ningbo APP, Ningbo Zhonghua

Zhejiang jinxing, Zhejinag Haijin

Zhejiang Dongda, Zhejiang Longchen

Zhejiang Huabang

Zhejiang Kingdector

Jiangxi Chenming


the new normal balancing continues · • more than 85 running valmet paper and board machines and...

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